Ningbo Sunrise Elc Technology Co Ltd Stock Forecast
Green day on Friday for Ningbo Sunrise Elc Technology Co Ltd stock after gaining 3.34%
(Updated on May 31, 2024)
The Ningbo Sunrise Elc Technology Co Ltd stock price gained 3.34% on the last trading day (Friday, 31st May 2024), rising from ¥20.98 to ¥21.68. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 4.06% from a day low at ¥20.92 to a day high of ¥21.77. The price has fallen in 6 of the last 10 days and is down by -2.43% for this period. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 138 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately ¥44.08 million.
The stock lies in the middle of a wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -4.01% during the next 3 months and, with a 90% probability hold a price between ¥17.55 and ¥21.68 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.
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002937.SZ Signals & Forecast
The Ningbo Sunrise Elc Technology Co Ltd stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at ¥21.14 and ¥21.26. A breakdown below any of these levels will issue sell signals. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Monday, May 06, 2024, and so far it has fallen -5.24%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for Ningbo Sunrise Elc Technology Co Ltd stock
Ningbo Sunrise Elc Technology Co Ltd finds support from accumulated volume at ¥20.78 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ¥0.85 between high and low, or 4.06%. For the last week, the stock has had daily average volatility of 6.13%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (002937.SZ) For The Upcoming Trading Day Of Monday 3rd
For the upcoming trading day on Monday, 3rd we expect Ningbo Sunrise Elc Technology Co Ltd to open at ¥21.46, and during the day (based on 14 day Average True Range), to move between ¥20.77 and ¥22.59, which gives a possible trading interval of +/-¥0.91 (+/-4.22%) up or down from last closing price. If Ningbo Sunrise Elc Technology Co Ltd takes out the full calculated possible swing range there will be an estimated 8.43% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ¥21.77 (0.42%) than the support at ¥20.78 (4.15%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Ningbo Sunrise Elc Technology Co Ltd stock A Buy?
Ningbo Sunrise Elc Technology Co Ltd holds several negative signals and we believe that it will still perform weakly in the next couple of days or weeks. We, therefore, hold a negative evaluation of this stock.
Current score: -1.729 Sell Candidate Unchanged
Predicted Opening Price for Ningbo Sunrise Elc Technology Co Ltd of Monday, June 3, 2024
| Fair opening price June 3, 2024 | Current price |
|---|---|
| ¥21.46 ( 1.03%) | ¥21.68 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for 002937.SZ
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.31 | 2.89 % | |
| R2 | 21.98 | 1.39 % | ||
| R1 | 21.78 | 0.468 % | ||
| Current price: | 21.68 | |||
| Support | S1 | 21.13 | -2.53 % | |
| S2 | 20.93 | -3.45 % | ||
| S3 | 20.61 | -4.95 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 22.55 | 4.01 % | |
| R2 | 21.89 | 0.97 % | ||
| R1 | 21.77 | 0.415 % | ||
| Current price | 21.68 | |||
| Support | S1 | 20.78 | -4.15% | |
| S2 | 20.69 | -4.57% | ||
| S3 | 20.11 | -7.24% |
002937 Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jun 06, 2024 | Jun 06, 2024 | Jun 06, 2024 | ¥0.300 | 1.38% |
| 2 | Jan 02, 2024 | Jan 02, 2024 | Jan 02, 2024 | ¥0 | 0% |
| 3 | Jun 01, 2023 | Jun 01, 2023 | Jun 01, 2023 | ¥0.200 | 0.85% |
| 4 | May 05, 2022 | May 05, 2022 | May 05, 2022 | ¥0.180 | 1.44% |
| 5 | Apr 30, 2021 | Apr 30, 2021 | Apr 30, 2021 | ¥0.180 | 1.35% |
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